Purchase a home and start building equity fast even if you haven’t saved enough for a down payment. That’s how our NB WealthBuilder Mortgage got its nickname, the No Down Payment Mortgage.
Your rate adjusts every five years over your 40-year term, making monthly payments much more affordable.
With no down payment required, you may be closer to owning a home than you think.
Work with the same Needham Bank expert from application to closing.
An NB WealthBuilder Mortgage isn’t the only way to achieve your dream home:
Our unique 5/5 adjustable rate mortgage has no down payment requirement, simplifying your residential loan application process.
Plus, with a shorter term, you’ll be able to build equity at a faster rate, making the investment in your home a true wealth builder.
The easiest way to pay your NB mortgage from your NB Checking Account is through NB Online Banking or NB Business Online Banking by completing a transfer from your checking account to your mortgage.
Yes, you may complete an ACH Agreement in order to do so. Call our Loan Servicing Department at (781) 474-5802 or complete the Authorization Form. Please forward the form to the Loan Operations Department via US Mail or email us at LoanOperations@NeedhamBank.com
Payment changes result from an adjustment to your interest rate or your escrow payment. Our Loan Operations Department will assist you in providing answers to all your questions. Please contact us by calling (781)474-5802 or by email at LoanOperations@NeedhamBank.com
The Annual Percentage Rate (APR) is 6.967% as of December 2, 2024 and is based on a 0% down payment. Available for owner occupied single family or condominium primary residences in the Needham Bank CRA lending area only. Maximum loan size $850,000 at 97%-100% LTV. Private Mortgage Insurance (PMI) required which may result in a higher APR. The maximum rate adjustment is 5% above the initial interest rate. Rate may increase every 60 months. For a loan amount of $650,000, estimated principal and interest payment: 60 payments of $4,990.79 at 6.875%, followed by 180 payments of $4,990.79 at 6.875%. Payments listed do not include taxes or insurance- your payments may be higher. Subject to credit approval and subject to change without notice. Minimum FICO score 700 required. NMLS #2141744
We’ve been made aware of fraudsters impersonating Needham Bank asking customers to verify fake transactions. The fraudsters will ask if you’ve made purchases at major retailers, withdrawn money from an ATM, or if you are traveling. Needham Bank will NEVER ask for your banking credentials or full debit card number via a phone call, email, or text message.
If you’ve received an inquiry of this nature and provided information, please contact our Customer Care Center at 781-444-2100.